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Updated: AVEVA sees tough times ahead as license revenue falls.

AVEVA has announced that it expects to report record revenue for the year ended March 31
2009, but that delays in new projects by the company’s core vertical customers will result in
a 30% to 40% decline in initial license revenue for the 2009/2010 fiscal year. In response,
AVEVA is restructuring, including the combination of business units and a reduction of
about 10% of its workforce. Final results for 2008/2009 will be reported in May.

Update: CEO Richard Longdon said AVEVA is in month 3 or 4 of what he believes is a
two-year downturn. He also said that the majority of the 80 or so people to be let go will be
in the UK and that operations South American and Eastern Europe, where sales are still
strong, will be unaffected.

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